46 U.S.C. § 56303 — Compensation

(a) In General. The Secretary of Transportation must figure out and pay fair, just compensation for a vessel requisitioned under this chapter, as soon as practically possible. (b) Factors Not Affecting Value. The vessel's value cannot be considered higher just because of the circumstances that led to the requisition. The government also does not have to pay for any indirect (consequential) damages caused by the requisition. (c) Effect of Construction-Differential Subsidy. (1) If the government already paid a construction subsidy for the vessel, its value at the time of requisition must be figured out under a specific rule in the Merchant Marine Act, 1936. (2) If no construction subsidy was paid, the value of any national-defense features the government previously paid for must be left out of the valuation. (d) Loss or Damage During Charter. If a vessel is lost or damaged by a risk the government agreed to cover under the charter, and no value or payment method was agreed on ahead of time, the Secretary must pay fair compensation for the loss or damage — to the extent the owner isn't already covered by insurance.